MicroStrategy's 'Crazy Gamble': $21 Billion Bet on Bitcoin, Is It Faith or the Prelude to Destruction?
MicroStrategy's recent operations can be described as 'daring' to the point of shocking. On one hand, they are wildly issuing stocks, and on the other, they are using the funds raised to buy bitcoins (BTC) in large quantities, even mortgaging their bitcoins for financing to continue issuing stocks... This approach is so extreme that describing it as 'aggressive' seems too conservative; it is almost like a 'tightrope act' continuously spinning in the financial sky. As long as the price of bitcoin continues to rise, everything appears picturesque; but once the market experiences even a slight disturbance, the entire plan could collapse in an instant. However, the market never develops according to anyone's script.